Hacker News Reader

Why did ransomware explode after Bitcoin came along? Why is it (and Eth) the payment method everyone asks for?

Because it’s far far easier to use for ransomware and to hide your trail than any traditional bank transaction or money transfer.

Ransoms have been paid via Bank Wires, PayPal and other technologies for decades.

99% of internet based ransoms are still being paid via Bank Wires.

What evidence do you have for, "99% of internet based ransoms are being paid via Bank Wires"?

That would be decisive if it were true.

But I always thought that it is much easier to get ill-gotten gains out of BTC than out of the banking system.

Sounds pretty staggering,

Two Arrested for Alleged Conspiracy to Launder $4.5 Billion in Stolen Cryptocurrency

Bitcoin has made it drastically easier to monetize a system once it’s been compromised